KUALA LUMPUR, Sept 7 (Bernama) -- New York City Real Estate Coin (NYCREC) has just announced that its Regulation S securities token offering (STO) will begin in the fourth quarter of 2018.
The tokens will only be offered to non-US persons in compliance with the registration provided by Regulation D and Regulation S of the United States Securities Exchange Act, a statement said.
NYCREC is the world’s first tokenized real estate fund focused on New York City real estate with an institutional-quality real estate and financial management team at the helm that comprises Wall Street investment professionals like Alain Oberrotman, Neil Benedict and Paul Brownstein.
It aims to benefit token holders through regular dividends from the cash flow of the properties in the NYCREC portfolio, distributed in the form of Ethereum (ETH) airdrops.
They will also enjoy a managed portfolio of real estate with greater flexibility and diversification than a similar real estate investment trust (REIT), which is typically narrower in its scope of investments.
They will gain from lower expense fees than a similar REIT, leading to more pass-through profits.
They will be furnished independent financial reports on progress of the project and its finances after the ICO is completed.
While for the international community, there will be increased accessibility to New York City real estate.
The long-term vision of the project is to tokenize real estate in major gateway cities around the world and to build a dedicated, collateralised blockchain for asset-backed security token offerings.
For more information, visit https://t.me/nycrec
-- BERNAMA
The tokens will only be offered to non-US persons in compliance with the registration provided by Regulation D and Regulation S of the United States Securities Exchange Act, a statement said.
NYCREC is the world’s first tokenized real estate fund focused on New York City real estate with an institutional-quality real estate and financial management team at the helm that comprises Wall Street investment professionals like Alain Oberrotman, Neil Benedict and Paul Brownstein.
It aims to benefit token holders through regular dividends from the cash flow of the properties in the NYCREC portfolio, distributed in the form of Ethereum (ETH) airdrops.
They will also enjoy a managed portfolio of real estate with greater flexibility and diversification than a similar real estate investment trust (REIT), which is typically narrower in its scope of investments.
They will gain from lower expense fees than a similar REIT, leading to more pass-through profits.
They will be furnished independent financial reports on progress of the project and its finances after the ICO is completed.
While for the international community, there will be increased accessibility to New York City real estate.
The long-term vision of the project is to tokenize real estate in major gateway cities around the world and to build a dedicated, collateralised blockchain for asset-backed security token offerings.
For more information, visit https://t.me/nycrec
-- BERNAMA
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